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Jun 30
Seres Therapeutics Q2 2025 Earnings Report
Seres Therapeutics reported its second quarter 2025 financial results, highlighting a reduced net loss from continuing operations and ongoing efforts to secure capital for its SER-155 program.
Key Takeaways
Seres Therapeutics reported a net loss from continuing operations of $19.9 million for Q2 2025, a significant improvement from the $26.2 million loss in the same period last year. The company is actively seeking partnerships and other funding structures to advance its SER-155 program, which aims to prevent bloodstream infections. Cash and cash equivalents stood at $45.4 million as of June 30, 2025, with an additional $25 million received from Nestlé Health Science in July 2025, extending the cash runway into Q1 2026.
Net loss from continuing operations improved to $19.9 million in Q2 2025, down from $26.2 million in Q2 2024.
Seres submitted its Phase 2 study protocol for SER-155 to the FDA, targeting approximately 248 participants with an adaptive design and interim analysis.
The company is actively engaging in discussions for business development and partnerships to secure capital for SER-155 and other product candidates.
Cash and cash equivalents were $45.4 million as of June 30, 2025, with an expected cash runway into the first quarter of 2026.
Seres Therapeutics
Seres Therapeutics
Forward Guidance
Seres Therapeutics expects to fund operations into the first quarter of 2026, supported by its current cash position and the recent $25 million payment from Nestlé Health Science. The company is actively pursuing strategic partnerships and evaluating cost reduction actions to extend its cash runway and advance its clinical programs.
Positive Outlook
- Expected cash runway into Q1 2026, supported by current cash and recent Nestlé payment.
- Active discussions with multiple parties for potential business development and partnerships to secure capital.
- Submission of SER-155 Phase 2 study protocol to FDA, with anticipated feedback to finalize.
- Interim clinical results for SER-155 Phase 2 expected within 12 months of study initiation, potentially enabling expedited FDA engagement for Phase 3.
- Exploration of R&D partnerships for inflammatory and immune disease programs.
Challenges Ahead
- Continued need for additional funding to support ongoing operations and clinical advancements.
- Uncertainty regarding the successful execution and timing of strategic partnerships or capital raises.
- Reliance on FDA feedback for finalizing the SER-155 Phase 2 protocol and subsequent study initiation.
- Potential for new challenges as a smaller, less diversified company following the VOWST sale.
- Risk of not realizing anticipated benefits from the VOWST sale.